N.C. Investment Authority

The North Carolina Investment Authority Division serves as the investment arm for the Department of State Treasurer. This Division employs many investment professionals that provide the expertise for state government investing. 

The North Carolina Investment Authority Division is responsible for the management of the Short-Term Investment Fund (STIF), the Pension Fund Investment Program and the Ancillary Investment Programs.

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About Us

The North Carolina Investment Authority Division is responsible for the management of:

Ancillary Governmental Participant Investment Program (AGPIP)

As authorized by the General Assembly, responsible for managing assets for the Escheats Fund, Public Hospital Funds, the Local Government Other Post-Employment Benefits Fund, Local Government Law Enforcement Special Separation Allowance Fund, and other Non-Pension assets.

For more detailed information, visit the Ancillary Governmental Participant Investment Program (AGPIP) section on the Programs page.

The Pension Fund Investment Program

The majority of the assets managed by the North Carolina Investment Authority Division belong to the various pension funds administered by the State Treasurer. Collectively, these systems and funds are referred to as the North Carolina Retirement System. For more information on the investment of these assets, please visit the Pension Fund Overview section on the Programs page.

The Short-Term Investment Fund (STIF)

Responsible for managing the operating funds of the State. The main participants in this program are the State’s General Fund and Highway Funds. For more information on the investment of these assets, please visit the Cash Management section on the Programs page.

Division Information

Main Phone Number (919) 814-4330

N.C. Investment Authority Division ContactsTitle
Kevin SigRistChief Investment Officer
Christopher MorrisChief Risk & Operating Officer
Jeff SmithDirector Investment Grade Fixed Income
Craig DemkoDirector of Private Equity
Matthew KrimmDirector of Investment Operations and Risk
Rhonda SmithDirector of Public Equity
Ronald FunderburkDirector of Opportunistic Fixed Income/Inflation Sensitive
Troy MarchDirector of Real Estate
 Ty PowersDirector Multi-Strategy
Andrew HoffmannInvestment Director Real Assets